I have been reviewing online trading platforms for many years now. Over the course of years, I have learned it that many online platforms are just copying each other in terms of their features. In other words, they are just giving you what everyone else is giving because they think it will work. On the other hand, you have companies like EU BITS that have intelligently created every trading feature on their platform. Why I am saying that will become quite clear in my EU BITS review.
I can talk at great length about the features on this platform, but I would like to focus on the ones that clearly show how EU BITS is different from the rest of them. So, let’s dive into the review right away.
Leverages on Trades
Let’s talk about leverages first. Most people think that the more leverage they have on their trades the better it will be for them. What they don’t realize is that leverages can work in both directions. They amplify your trading outcomes, not just profits. Outcomes can be in the form of losses as well. So, before you use leverages on your trades, you have to be very sure about your predictions. That’s something only experienced traders can do. So, to help new traders avoid huge losses that they can’t bear, EU BITS has made sure to give smaller leverages to basic traders and big leverages to experienced traders.
You will find out about the leverages as soon as you look at the account details from this broker. So, the leverage you can use if you go with the first and the most basic account is just 1:100. However, if you are an expert trader who knows what they are doing, you can get leverages of 1:600.
Small Deposits for Every Account
I want to talk about something really important here. If you notice on other trading platforms, they usually have small deposits for basic accounts, but then some huge deposit requirements for advanced trading accounts. I always think that if a new trader can’t afford to spend a lot of money upfront, an experienced trader wouldn’t be ‘willing’ to do it because they want to test the waters before diving right in. In simple words, both new and experienced traders shouldn’t have to pay a huge upfront cost to open a trading account. To the end, I think EU BITS has done the best job of setting some great limits to the initial deposits.
If you are just starting out as a trader, you have to spend only $250 to open a basic trading account, called the standard account. If you are an advanced trader, you would need to spend $500. If you are a professional, you can go with the Elite account with a deposit of just $1000. You can see that the highest deposit requirement is capped at $1000, which is rare to see.
The Choice of a Webtrader
You should ask yourself why the company went with a Webtrader, a web based trading platform when it could have designed a mobile application only for mobile users and a desktop platform for desktop users. Well, the answer is just one word: convenience. When you sign up with EU BITS, you just have to use one trading platform for all your trading needs. Keep in mind that EU BITS is not just a cryptocurrency broker. It provides trading in 10 different asset classes and so it has to cater to the needs of a worldwide audience. A web-based trader with no downloading requirements makes the most sense here.
You can see how this company has spent years in designing every feature on its platform. You could look at a feature and just tell why it was designed a certain way. I think we all need more online brokers that think differently and from the minds of their traders while creating their online trading platforms.